Biden May Not Hold Any Offshore Oil and Gas Leases Until the End of His Term, Industry Group Says

The American Petroleum Institute (API), a leading industry group, said the next offshore oil and gas lease sale likely wouldn’t come until early 2024 following the latest Biden administration update.

The Department of the Interior (DOI) announced Thursday that it would issue an updated proposed program plan for offshore lease sales by June 30. The API, though, said the announcement confirms the administration is “significantly behind” in the multi-year process required for approving a new five-year offshore plan, likely delaying lease sales until early 2024.

Read More